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Bhavin J. Shah

Other affiliations: Gujarat University
Bio: Bhavin J. Shah is an academic researcher from Indian Institutes of Management. The author has contributed to research in topics: Trade credit & Profit (economics). The author has an hindex of 3, co-authored 7 publications receiving 17 citations. Previous affiliations of Bhavin J. Shah include Gujarat University.

Papers
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Journal ArticleDOI
TL;DR: The results show that the vendor gets more advantage when the collaborative model is applied and the buyer's profit is bigger in the Stackelberg game model than the Collaborative model.
Abstract: In this study, inventory models are developed for coordinated supply chain using Stackelberg game framework. In the proposed model, customer demand is assumed to be price and time sensitive. The buyer attempts to adjust retail selling prices by charging premium or offering discount to the floor selling price depending upon the optimistic or declining market conditions. The aim of this research paper is to analyse the optimal pricing policy that maximises total profit for both the players under the principles of coordination, and competition. Some numerical examples are given to study the model. The results show that the vendor gets more advantage when the collaborative model is applied and the buyer’s profit is bigger in the Stackelberg game model than the collaborative model.

6 citations

Journal ArticleDOI
01 Sep 2013-Opsearch
TL;DR: An inventory model for deteriorating items with finite production rate and stochastic demand rate is developed when the supplier offers delay period to the retailer for due payment against purchases and the retailer in turn extends the trade credit offer to its customers as mentioned in this paper.
Abstract: An inventory model for deteriorating items with finite production rate and stochastic demand rate is developed when the supplier offers delay period to the retailer for due payment against purchases and the retailer in turn extends the trade credit offer to its customers. This policy of passing on of the credit period is well known as two-level of credit financing. Items in the system follow stochastic demand behavior that are produced with finite production rate and subjected to constant rate of deterioration. The model is developed with an objective to minimize total expected cost of retailer as it is assumed to be a dominant player in the supply chain. Necessary and sufficient conditions for existence and uniqueness of the optimal solution are obtained and established to minimize the retailer’s total expected cost. Results obtained are validated with the help of numerical examples. Sensitivity analysis of various parameters is carried out to gain meaningful managerial insights.

6 citations

01 Jan 2003
TL;DR: In this article, an alternative numerical analysis is described to examine the present value of the discounted costs over an infinite horizon, where the deterioration rate is a continuou s random variable and follows a two parameter weibull distribution.
Abstract: The analysis of the deterministic economic order quantity problem for time dependent deterioration of units seeks to minimize the average cost of inventory systems. An alternative numerical analysis is described in this paper to examine the present value of the discounted costs over an infinite horizon. The deterioration rate is a continuou s random variable and follows a two parameter weibull distribution. Also a sensitivity analysis is studied by some numerical illustrations. Comparison of two solutions is also discussed.

3 citations

01 Jan 2014
TL;DR: In this paper, an inventory system of deteriorating items is considered and the objective is to maximize the total profit per unit time with respect to optimal investment to be made, credit period and procurement quantity.
Abstract: The supplier presents its buyer a credit period to settle the account which attracts more buyers and increases market demand. However, the offer of credit period invites default risk for the supplier. In this paper, we also implement efficient preservation technology for our inventory system of deteriorating items. The demand is considered to be quadratic and is dependent of permissible trade credit. The objective is to maximize the total profit per unit time with respect to optimal investment to be made, credit period and procurement quantity. Numerical example is given to illustrate the theoretical results and concavity of total profit is established. Managerial observations are outlined using sensitivity analysis.

2 citations

01 Jan 2006
TL;DR: In this article, a modelo matematico was developed to study the decisiones of reabastecimiento optimas of a vendedor bajo two niveles of escenarios of credit.
Abstract: En este trabajo se desarrolla un modelo matematico para estudiar las decisiones de reabastecimiento optimas del vendedor bajo dos niveles de escenarios de creditos cuando la tasa de produccion del suministrador es finita y las unidades recibidas por el vendedor son aleatorias. Se entiende por dos niveles de credito que el suministrador ofrece un periodo espera, (digamos M) para el vendedor y despachandole (digamos N) al comprador. El periodo de credito que el vendedor ofrece al comprador es menor que el periodo M ofertado y permitido por el suministrador al vendedor. La politica optima de reabastecimiento es fij ada para minimizar el costo total esperado de un sistema de inventario. El algoritmo de uso facil es dado para busca r la politica de reabastecimiento optima. Finamente se dan ejemplos numericos para va lidar el modelo derivado

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Journal ArticleDOI
TL;DR: An up-to-date review of perishable inventory models, but also of the joint key topics of publications from January 2012 until December 2015 in the research area of deteriorating inventory models is given.

206 citations

Journal ArticleDOI
TL;DR: A systemic review of perishable inventory models along various dimensions to fill the gap in the perishable Inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.
Abstract: The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps.,In total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested.,There are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market.,Only peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling.,Stress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory.,The current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

58 citations

DOI
01 Aug 2018
TL;DR: In this article, a two-echelon supply chain model for deteriorating items, consisting of a single manufacturer and a single retailer, where the customer's demand to the retailer depends on advertisement and the displayed stock level of the retailer, is presented.
Abstract: This article presents a two-echelon supply chain model for deteriorating items, consisting of a single manufacturer and a single retailer, where the customer's demand to the retailer depends on advertisement and the displayed stock level of the retailer. Due to the imperfect production system, the manufacturer produces a certain quantity of defective items with the perfect products. The manufacturer inspects all the products immediately after production and sells the ideal quality items to the retailer. To entice the retailer to purchase more products, the manufacturer offers the retailer a trade-credit policy so that the retailer can get a chance to settle his account before the payment for the products. We have developed a cost function of this model. Numerical examples have been presented to clarify the applicability of this model and the sensitivity analysis with respect to different parameters involved with the model has been performed to study the effect of the parameter change on the decision variables.

11 citations

Journal ArticleDOI
TL;DR: In this paper, a health care system consisting of multiple hospitals, a distribution center and one regular and one outsourcing suppliers of medicine for the distribution center is considered, and the expected cost function of entire supply chain is formulated considering holding cost, shortage cost, outsourcing cost and preservation cost.
Abstract: The paper deals with a health care system consisting of multiple hospitals, a distribution center and one regular and one outsourcing suppliers of medicine for the distribution center. Demand of medicine at hospitals is assumed stochastic in practice. The expected cost function of entire supply chain is formulated considering holding cost, shortage cost, outsourcing cost and preservation cost. In this cost function, order quantities from each hospital and rate of deterioration of medicine at distribution center are decision variables. The above expected cost function of supply chain is analyzed by calculus method in light of both continuous and discrete distribution function. Model is also particularly demonstrated for normal and Poisson distribution of the random variables. We use a distribution-free approach to address the situation where information about the random variables is limited to the mean and the variance, and distribution function is unknown. In this case we minimize upper bounds of the expected cost function of the supply chain for all the possible distribution of the random variable. Numerical example is illustrated to justify our proposed models.

10 citations

Journal ArticleDOI
Nita H. Shah1
01 Apr 2015-Top
TL;DR: In this paper, a mathematical model is formulated to determine the optimal replenishment time and credit period under two levels of trade credit financing when the demand and bad-debt loss depend on the length of the credit period.
Abstract: The business world survives on trade credit financing. The three players, viz. supplier, retailer, and customer, are building blocks of any business firm. The retailer receives credit period from the supplier to settle the accounts due against the purchases. For retailer, the customer is a prominent stakeholder. To withstand the competitive market and generate credit sales and cash sales, the retailer offers credit period to attract more customers. This will boost the demand for the retailer and consequently the supplier. The offer of credit period by the result may result in bad-debt loss when the customer declares incapability to do the payment. The situation worsens when the items in the inventory system are subject to deterioration. In this article, a mathematical model is formulated to determine the optimal replenishment time and credit period under two levels of trade credit financing when the demand and bad-debt loss depend on the length of the credit period. The profit per unit time of the retailer is maximized by optimizing the cycle time and date-terms credit period when items in the inventory deteriorate at a constant rate. A numerical example is given to validate the proposed model. Sensitivity analysis is carried out and observations are deduced.

9 citations